According to The Chicago Tribune, Ebony and Jet have been sold to a black owned private investor firm based out of Austin.

“This is the next chapter in retaining the legacy that my father, John H. Johnson, built to ensure the celebration of African-Americans,”Linda Johnson Rice said. Her father, John Johnson, started the magazines in 1945.

Clear View’s own co-founder, Michael Gibson, spoke about the purchase.

“We made this purchase because this is an iconic brand—it’s the most-recognized brand in the African-American community,” said Gibson. “We just think this is a great opportunity for us.”

And on top of Ebony being purchased, actor/producer Byron Allen’s company, Byron Allen’s Entertainment Studios, has purchased The Grio.

“David Wilson and his founding partner Dan Woolsey have done an incredible job these past seven years building TheGrio, and we are one thousand percent committed to continue expanding this digital news community’s reach across all global media platforms, including our broadcast television syndication programs, cable television networks, and motion picture division,” Byron Allen, Founder, Chairman, and CEO of Entertainment Studios, said in a statement to TheWrap.

“We are excited to have TheGrio join Byron Allen’s ever-expanding Entertainment Studios media empire,” Wilson, Co-Founder and Executive Editor of TheGrio, continued. “Byron shares our vision of growing TheGrio into the leading video content creator and distribution platform for African-Americans. We look forward to developing the next iteration of TheGrio, and the fact that it will remain 100 percent African American-owned is very significant.”

According to ComScore, currently the No. 1 trafficked black news site is The Root, which was purchased by Univision last year.